- Adjusted earnings were approximately $66 million or $0.69 per diluted share.
- Adjusted efficiency ratio improved by about 7 percentage points.
- Adjusted loan yields decreased 1 basis point to 6.18%.
- Adjusted pre-provision net revenue was $103 million.
- Adjusted total cost of deposits decreased 18 basis points to 2.04%.
- Allowance for credit losses (ACL) as a percentage of total loans increased 1 basis point to 1.57%.
- Capital ratios remain well above regulatory minimums.
- Core net interest margin expanded from 3.42% to 3.58%.
- Deposits increased by $361 million or 7% quarter-over-quarter.
- Loans increased by $312 million or 7% quarter-over-quarter.
- Net charge-offs were $12.1 million, mainly from two credits.
- Noninterest expense was $183.2 million, excluding $20.5 million merger/conversion expenses, core expense was $162.7 million.
- Noninterest income was $48.3 million, up $11.9 million linked quarter, driven by The First and mortgage division.
- Reported earnings were $1 million or $0.01 per diluted share for Q2 2025.
- Reported margin rose from 3.45% to 3.85% reflecting purchase accounting adjustments.
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- Asset quality remained stable with criticized loans declining $118 million, though other real estate owned increased by $167 million due to repossession of office properties.
- Capital ratios remained strong with CET1 at 11.2% and adjusted capital ratio at 11%, above peer median.
- Efficiency ratio improved to 52% from 56% in Q1, reflecting positive operating leverage.
- Net interest income grew 7.2% quarter-over-quarter to nearly $700 million, with net interest margin rising 6 basis points to 3.53%.
- Noninterest expense rose 3% to $515 million, mainly due to seasonal deposit cost increases.
- Noninterest income increased 16.4% to $148 million, driven by mortgage banking revenue of approximately $78 million.
- Provision expense was $40 million, reflecting organic loan growth and net charge-offs of approximately $30 million.
- Tangible book value per share increased 15% year-over-year to $55.87, with return on average tangible common equity at 14.9% and return on average assets at 1.1%.
- Western Alliance delivered strong Q2 2025 results, exceeding expectations with over $1 billion sequential loan growth and nearly $2 billion deposit growth.
- Adjusted compensation ratio improved to 65.4%, down 60 basis points year-over-year, while adjusted noncompensation expenses rose 9% due to technology and occupancy costs.
- Adjusted operating income was $157 million, a 37% increase versus Q2 2024, with adjusted EPS of $2.42, up 34% year-over-year.
- Advisory fees increased 23% year-over-year to $698 million, a record for the quarter.
- Asset Management and Administration Fees grew 3% to $21 million, driven by market appreciation and net inflows.
- Cash and investment securities totaled over $1.7 billion as of June 30, with positive cash flow and $532 million returned to shareholders in the first half through buybacks and dividends.
- Evercore delivered adjusted net revenues of $839 million in Q2 2025, up nearly 21% year-over-year, marking record revenues for both the quarter and first half of the year.
- GAAP net revenues, operating income, and EPS were $834 million, $150 million, and $2.36 per share respectively in Q2 2025.
- Share repurchases totaled approximately 1.7 million shares year-to-date at an average price of $258.5 per share, fully offsetting dilution from RSU grants.
- Underwriting revenues rose 4% to $32 million, commissions and related revenue increased 10% to $58 million.
- Allowance for credit losses increased to $59 million, with a coverage ratio of 1.25% of total loans.
- CET1 ratio modestly decreased 15 basis points to 14.13%, and Tier 1 leverage was 9.22%.
- Core noninterest expense was $40.4 million, down $1.1 million from the prior quarter, with a core efficiency ratio of 49%.
- Core noninterest income was $9.3 million, up from $9.1 million, mainly due to higher commercial banking fees.
- Core return on average equity was 14.61%, down from 15.23% last quarter, and core return on average assets declined to 1.28%.
- Loan growth was 0.8% quarter-over-quarter, driven by multifamily, commercial and industrial, and commercial real estate loans, partially offset by declines in consumer and residential loans.
- Net charge-offs were 0.3% of total loans, mainly from consumer solar and small business C&I loans.
- Net income was $26 million or $0.84 per diluted share and core net income was $27 million or $0.88 per diluted share.
- Net interest income grew by 3.3% and was $72.9 million, with a net interest margin steady at 3.55%.
- Nonperforming assets totaled $35.2 million or 0.41% of total assets, increasing slightly due to residential nonaccrual loans.
- On-balance sheet deposits increased by $321 million or 4.3% to $7.7 billion, including $112.3 million of temporary pension funding deposits.
- Tangible book value per share increased $0.82 or 3.5% to $24.33, growing 18% over the past 4 quarters.
- The bank repurchased approximately 327,000 shares or $9.7 million in the quarter, the largest repurchase in its history.
- Commercial loan growth was $114 million for the first 6 months of 2025, an annualized rate of 6.2%, despite $154 million in loan reductions primarily from asset sales.
- Deposit base increased 13% year-over-year, reducing the loan-to-deposit ratio from 107% to just under 100%.
- Effective tax rate was reduced to about 13% in Q2 2025 due to acquisition of transferable energy tax credits, lowering federal income tax expense by $1.5 million.
- Mortgage banking income increased 23.4% for the first 6 months of 2025 compared to the same period in 2024.
- Net income for Q2 2025 was $22.6 million or $1.39 per diluted share, up from $18.8 million or $1.17 per diluted share in Q2 2024.
- Net income for the first 6 months of 2025 was $42.2 million or $2.60 per diluted share, compared to $40.3 million or $2.50 per diluted share in the prior year period.
- Net interest income increased by $2.4 million in Q2 and $3.6 million in the first 6 months of 2025 compared to prior year periods.
- Net interest margin declined 14 basis points year-over-year in Q2 2025 but improved sequentially from Q1 2025.
- Noninterest expenses increased due to higher salary, benefits, data processing costs, and new product introductions.
- Provision expense was $1.6 million in Q2 and $3.7 million in the first 6 months, reflecting increased allocations for stressed loans and economic forecast changes.
- Cash and cash equivalents stood at approximately $98.6 million.
- Cash and cash equivalents were approximately $98.6 million.
- Earnings Available to Common (EAD) was about $100,000 or effectively zero.
- Second quarter GAAP income was $1.4 million or $0.03 per diluted share, similar to last quarter.
- Second quarter GAAP income was $1.4 million or $0.03 per diluted share, similar to the previous quarter.
- The company declared a second quarter common stock dividend of $0.06 per share, with no plans to reduce it soon.
- The company reported a common stock dividend of $0.06 per share and does not intend to reduce it soon.
- The stock traded at about $2.70, representing roughly a 50% discount to book value.
- The stock was trading at about $2.70, representing roughly a 50% discount to book value.
- Total equity was $2.95 million with a GAAP book value of $5.37 per share.
- Total equity was $2.95 million with GAAP book value at $5.37 per share.
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